New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-02-16
POSTAL SAYINGS BANKS.
THE BILL NOW PENDING IN THE HOUSE.

TIE SYSTEM FAVORED BY A COMMITTEE OF THE
STATE CHARITIES ASSOCIATION.
special committee OF the State Charities AID Asso
citation made interesting report upon the suDecs
Of establishing under Government supervision system
of postal savings banks. The committee Is composed OF
Horace White Joseph H. Choate. Miss Grace d. Dodge
Assistant Secretary Of the Treasury Charles g. Falrchd
Mrs. joseph Hobson Walter Howe DR.. Charles Hitch
cock Thomas 1. James, Professor j. s. Newberry, Mrs.
william b. Rice and Miss Louisa Lee Schuyler The as
ISOLATION for which this committee acts Is an earnest
OF tho proposed banks Early In January Dill
In harmony with Its ideas introduced In congress
and Is now in committee It provides for the opening OF
subdepositorics at the post onces OF tho
country. Any person may become depositor
The less than s. nor shall more than
be one month Eve er a1nat o aay one
aspo.sPS the very PIsr s
SssS e %Sn postal saving. stamps issued
and when the or Ds,E 70
stamps purchased and ased represents So ta sos su w,
to h Ss
% Hs s z: sSs 81
thus G 10 ne ass IL 81 ss for rs
demand The Secretary q the Treasury !; re-
se 20 x ns nea States and
si'sr he admn;t5a
rata, BIT no ed rate Of on NOR any an.
pais ~ ALL a"'''' ''''' 10 "'' gam ''''' "
Upon this measure tho report comments as follows:
will tho object such
% provide absolute security for small savings and also 70
the important essential feature OF the DILL safety
that not impered by deaulng presidents and cash
ers dishonest clerks II will be noted that no interest,"
promised the money depos ted ny those VINO
OF q per cent might be paid TO deposors after
deducted but oreseeing tho possible rapid eh
ncton tho public debt and tho CONSEQUENT naoiity 10
invest permanently in United states securities II was aeeu
The affords the people OF the United states
asafe place In which they deposit their small savings
alleged by the committee that the working people
In whose interest the proposed banks are 10 De esaDs
cd enthusiastically In favor OF them. Tho objections
which have been raised to them are thus answered:
Tn. opponents Of the that with tho extinction
SECURITIES
invest money that would lie idle be Withdrawn
from circulation and consequently be detrimental 10 le m
VIII long allow n OF 5000 or $500 10 lie iile
drawing interest. making return; that
stl stored In old stockings and bureau drawers;
withdrawn from circulation. but exposed 70 the!tj ahu
shop speDt not the best interests OF mo
country Money earned saved well spent as 70 inc eatn
country IL self respecting man Oeln IT,
made lessons tho wea VI VI
because or later
per behind II
contrast Is drawn between the number OF savings
banks established since $50 and the number OF posloce
none y-order Offices, showing that the increase OF Tue
former the increase OF the latter about one 10 loo
claimed that increase OF savings banks can com
pete with the rapid Increase OF money oices nor
with their convenient location and facilities for receiving
deposits II expected that the bill can pass al s
session OF Congress- but Is urged that shall be re-
the Post Oce Committee IN s protested sympathy VIII
f.av